Cochin Shipyard, ITD Cementation, KEC International: Check top buzzing stocks of the day

Stock market today: The bulls were in full control of the stock market on Friday, September 20. All the sectoral indices were trading with impressive gains, with the equity benchmark indices scaling fresh peaks. 

Here is a list of stocks that were buzzing during the trade.

Cochin Shipyard and other defence stocks were trading with huge gains. Cochin Shipyard shares jumped around 10%. The stock, as per reports, will trade ex-dividend on September 23. Further, the company is set to receive inflows of $30 million, as the stock has been included in the FTSE All World index. The rebalancing is scheduled to take place today.

Among other defence names, Garden Reach Shipbuilders & Engineers was trading around 10% higher. BEML, Bharat Electronics, and Hindustan Aeronautics (HAL), too, were trading with notable gains. 

ITD Cementation: Shares of ITD Cementation surged 17% to ₹552 apiece on the NSE after reports of Adani Group’s plan to acquire the promoter’s stake in the company. The Adani Group is likely to acquire a 46.64% stake in ITD Cementation India through Adani Enterprises Ltd (AEL) for ₹5,888.57 crore, according to a report by The Economic Times. The company plans to enhance its civil engineering capabilities, the report mentioned, citing sources privy to the matter.

Reliance Infrastructure: Shares of Reliance Infrastructure jumped as much as 12.37% to hit their 52-week high of ₹320 apiece on the BSE on Friday, September 20, a day after the company said its board of directors approved raising of ₹3,014 crore by preferential issue of up to 12.56 crore equity shares.

Vodafone Idea: Shares of Vodafone Idea continued its downward journey on Friday, September 20, a day after the Supreme Court of India rejected the telcos' plea on re-computation of adjusted gross revenues (AGRs). At one point, shares of the telecom company slipped below the ₹10 level. The stock was still in negative territory at the time of writing this article.  

KEC International: Shares of KEC International slipped 4% after CARE Ratings downgraded the company's long-term bank facilities. 

Mankind Pharma: Shares of the company were trading over 3% higher at ₹2,510.35 apiece on the BSE as the company will hold a board meeting today to consider and approve the raising of funds by way of issue of non-convertible debentures, commercial papers, other debt securities, or any other security or any combination thereof.

IIFL Finance: Shares jumped over 13% after the Reserve Bank of India (RBI) last evening removed restrictions on the company’s gold finance business. Following the embargo, the company faced major issues related to credit availability for servicing the gold loan business.